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Tanzanian Billionaire Rostam Aziz Plans to Build First-Ever Utility Solar Project in Zanzibar worth $140M

| How Africa News


Tanzanian billionaire Rostam Aziz, CEO of Taifa Energy, has teamed up with the Mauritanian company General Capital Limited (GCL) to sign a contract with Zanzibar’s national Electricity Corporation (Zeco) to construct a utility-scale solar photovoltaic (PV) project on the island that will boost the island’s grid’s capacity by 180 megawatts.

The project, which is estimated to cost roughly $140 million, will be developed under the management of the two companies’ alliance. According to the agreement, Zeco will purchase the electricity produced by the solar installation.

According to Africa Briefing, Joseph Kilangi, the permanent secretary of Tanzania’s Energy and Minerals Ministry, said that the project would be carried out in stages. In Bambi, part of the Central District of South Unguja Region, a 30 MW solar PV plant is being built as part of the project’s first phase, which is scheduled to be finished in 2024.

Since it was Tanzania’s first utility-scale solar PV installation, Azis said that the project is highly historic. Additionally, he applauded the Zanzibar Investment Promotion Authority for granting GCL investor status and supporting it with all the rights and benefits that go along with it, according to Billionaires Africa.

The initiative, according to the billionaire from Tanzania, is expected to have a rapid impact on job creation and stimulate sustainable development, particularly in places where there is an urgent need for a competitively priced and dependable power source. He expressed his enthusiasm for the project and emphasized how crucial it was for the growth of renewable resources across the entire African continent.

One of Tanzania’s wealthiest businessmen, Rostam Azis is a self-made success. In addition to his work in business, Azis formerly served as a Member of Parliament from 1994 to 2011.

During his tenure, he improved the water supply in his constituency, making it the first district to have a dispensary in every village and every ward.

The forward-thinking businessman has investments and businesses that cut across telecommunication, aviation, port management real estate, agriculture, media, and mining.

Written by How Africa News

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